PSD2/Regulatory Technical Standards (RTS) on Strong Customer Authentication and Secure Communication, and IFR/RTS on separation of payment card schemes and processing entities

Briefing: Scrutiny Papers are drawn up by officials of the relevant committees of the European Parliament to help Members of the European Parliament on the committees in their work on scrutiny of delegated acts.The monthly scrutiny slot at the European Parliament Committee on Economic and Monetary Affairs (ECON) meeting of 21 November 2017 focused on the Regulatory Technical Standards (RTS) specifying the requirements on strong customer authentication and common and secure communication under PSD2 which the European Commission was about to adopt.

These RTS had been previously discussed in ECON scrutiny slots and were the most sensitive PSD2 level-2 measure on which the industry has voiced concerns. The end of the session was dedicated to the RTS on separation of payment card schemes and processing entities under Article 7(6) of the Interchange Fees Regulation (IFR) which had recently been adopted - also with changes in regard to the draft of the EBA.

Representatives from the Commission, EBA and ECB were invited to the meeting.

An earlier Briefing covered the situation in 2016.

Author: D. Kolassa

ESO: Key source: Payment services http://www.europeansources.info/record/website-payment-services/

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